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OMB APPROVAL
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OMB Number: 3235-0287
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Expires: October 31, 2001
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FORM 4
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[x] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Responses)
________________________________________________________________________________
1. Name and Address of Reporting Person*
Miller III Lloyd I
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(Last) (First) (Middle)
4550 Gordon Drive
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(Street)
Naples FL 34102
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(City) (State) (Zip)
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
Porta Systems Corporation (PSI)
________________________________________________________________________________
3. IRS or Social Security Number of Reporting Person, if an entity (Voluntary)
###-##-####
________________________________________________________________________________
4. Statement for Month/Year
September, 2000
________________________________________________________________________________
5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[_] Form filed by More than One Reporting Person
________________________________________________________________________________
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (Month/Day/Year) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 8/21/00 S 5,400(1) D(1) $1.00 I By Trust A-4
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Common Stock 9/7/00 S 20,250(1) D(1) $1.285 I By Trust A-4
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Common Stock 9/8/00 S 27,700(1) D(1) $1.3321 I By Trust A-4
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Common Stock 9/13/00 S 31,000(1) D(1) $1.0141 I By Trust A-4
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Common Stock 9/14/00 S 5,000(1) D(1) $1.00 I By Trust A-4
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Common Stock 9/15/00 S 15,100(1) D(1) $1.0368 I By Trust A-4
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Common Stock 9/19/00 S 11,000(1) D(1) $1.00 I By Trust A-4
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Common Stock 9/25/00 S 14,300(1) D(1) $1.0551 I By Trust A-4
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Common Stock 9/26/00 S 5,800(1) D(1) $1.00 190,960(1) I By Trust A-4
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Common Stock 9/7/00 S 20,250(1) D(1) $1.2850 I By Trust C
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Common Stock 9/12/00 S 6,200(1) D(1) $1.0685 I By Trust C
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Common Stock 9/13/00 S 31,000(1) D(1) $1.0141 I By Trust C
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
</TABLE>
<PAGE> 2
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified
Stock Option $3.85 5/98 04/30/08 Common 2,000(2) 2,000 D
Stock
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Series B Warrants $3.00 1/98 12/31/02 Common 25,000(3) 25,000 I By Trust
Stock A-2
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Series B Warrants $3.00 1/98 12/31/02 Common 25,000(3) 25,000 I By Keogh
Stock
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Series B Warrants $3.00 1/98 12/31/02 Common 5,000(3) 5,000 I Trust
Stock f/b/o
Kimberly
I.
Miller
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Series B Warrants $3.00 1/98 12/31/02 Common 5,000(3) 5,000 I Trust
Stock f/b/o
Catherine
Miller
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Series B Warrants $3.00 1/98 12/31/02 Common 5,000(3) 5,000 I UGMA
Stock Alexandra
Miller
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Series B Warrants $3.00 1/98 12/31/02 Common 5,000(3) 5,000 I Trust
Stock Lloyd I.
Miller
GST
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Series B Warrants $3.00 1/98 12/31/02 Common 5,000(3) 5,000 I UGMA
Stock Lloyd I.
Miller, IV
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Explanation of Responses:
(1) Shares sold pursuant to a prospectus
(2)These options are granted pursuant to the Company's 1996 Long-Term Incentive
Plan, a 16b-3 plan, and are exercisable in installments.
(3) The reporting person disclaims beneficial ownership of these securities,
and this report shall not be deemed an admission that the reporting person is
the beneficial owner of such securities for the purposes of Section 16 or for
any other purpose, except to the extent of his pecuniary interest therein.
/s/ Lloyd I. Miller, III 10/10/00
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**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,
see Instruction 6 for procedure.
</TABLE>
<PAGE> 3
________________________________________________________________________________
1. Name and Address of Reporting Person*
Miller III Lloyd I
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
Porta Systems Corporation (PSI)
________________________________________________________________________________
3. Statement for Month/Year
September, 2000
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (Month/Day/Year) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 9/14/00 S 5,000(1) D(1) $1.00 I By Trust C
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Common Stock 9/18/00 S 20,000(1) D(1) $1.00 I By Trust C
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Common Stock 9/27/00 S 6,00(1) D(1) $1.00 157,105(3) I By Trust C
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Common Stock 9/6/00 S 15,100(1) D(1) $1.0919 I By Milfam I,
L.P.
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Common Stock 9/6/00 S 85,000(1) D(1) $1.2957 I By Milfam I,
L.P.
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Common Stock 9/11/00 S 13,800(1) D(1) $1.2790 I By Milfam I,
L.P.
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Common Stock 9/21/00 S 3,500(1) D(1) $1.00 I By Milfam I,
L.P.
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Common Stock 9/22/00 S 1,200(1) D(1) $1.00 I By Milfam I,
L.P.
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Common Stock 9/28/00 S 4,600(1) D(1) $1.00 221,502(3) I By Milfam I,
L.P.
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Common Stock 918/00 S 10,000(1) D(1) $1.00 20,246(3) D
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Common Stock 9/18/00 S 4,500(1) D(1) $1.00 176.062(3) I By Milfam
LL, L.P.
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1,000(3) I By Wife
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)*v)
(Over)
</TABLE>
<PAGE> 4
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Series C Warrants $1.90 1/99 12/31/03 Common 6,250(3) 6,250 I By Trust
Stock A-2
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Series C Warrants $1.90 1/99 12/31/03 Common 6,250(3) 6,250 I By Keogh
Stock
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Series B Warrants $1.90 1/99 12/31/03 Common 1,250(3) 1,250 I Trust
Stock f/b/o
Kimberly
I.
Miller
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Series B Warrants $1.90 1/99 12/31/03 Common 1,250(3) 1,250 I Trust
Stock f/b/o
Catherine
Miller
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Series B Warrants $1.90 1/99 12/31/03 Common 1,250(3) 1,250 I UGMA
Stock Alexandra
Miller
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Series B Warrants $1.90 1/99 12/31/03 Common 1,250(3) 1,250 I Trust
Stock Lloyd I.
Miller
GST
------------------------------------------------------------------------------------------------------------------------------------
Series B Warrants $1.90 1/99 12/31/03 Common 1,250(3) 1,250 I UGMA
Stock Lloyd I.
Miller, IV
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</TABLE>
